No deal: Trump casinos won't be sold

By WAYNE PARRYAssociated Press WriterATLANTIC CITY (AP) -- Donald Trump knows the art of the deal. And he apparently also knows when not to make one.

The company that bears the flamboyant real estate mogul's name had been up for sale for several months. But Trump Entertainment Resorts announced Monday it is not likely to be sold.

That caused shares of the company to plunge in premarket trading.

The operator of three Atlantic City casinos said its board determined none of the "indications of interest" received met its expectations.

Trump was in talks with a group led by former Atlantic City casino executive Dennis Gomes and real estate developer Morris Bailey about a possible sale of the casinos.

New York-based fund manager Dune Capital Management LP, which is run by former Goldman Sachs & Co. executives, was also said to be a possible bidder.

Trump said it is currently not holding talks with any of the parties that were considering offers.

Trump said it will continue to explore options while implementing its strategic operating plan.

A company spokesman did not immediately return a call seeking comment Monday morning.

The company operates the Trump Marina Hotel Casino, the Trump Plaza Hotel and
Casino, and the Trump Taj Mahal Casino Resort. All three were recently granted new five-year operating licenses by the New Jersey Casino Control Commission, which expressed skepticism about rosy financial projections the company made for the next three years.

Shares of Trump Entertainment Resorts fell $1.83, or 14.6 percent, to $10.75 in electronic premarket trading. The stock closed at $12.58 on Friday.